Item 1A. Risk Factors
Item 1A. Risk Factors.
A summary of the principal factors that make an investment in
the Shares speculative or risky are contained in the Trust’s Annual Report on Form 10-K for the period ended December 31, 2023 filed
on March 31, 2024 and additionally by the following risk factor.
The Trust is not an investment company registered
under the 1940 Act or the Commodity Exchange Act.
The Trust is not registered as an investment company
under the 1940 Act and is not subject to the statutory requirements of the 1940 Act. Further, the Trust will not hold or trade in commodity
interests regulated by the CEA, as administered by the CFTC and that neither the Sponsor nor the Trustee is subject to regulation by the
CFTC as a commodity pool operator or a commodity trading advisor in connection with the operation of the Trust. Consequently, Shareholders
will not have the statutory protections provided to investors in registered investment companies, CEA-regulated instruments or commodity
pools.
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